Five years after being officially introduced by late Apple chief Steve Jobs, the iPhone is still going strong. But as the mobile community awaits the 6th generation model this fall, the industry is taking a moment to reflect on where the iPhone has been and just how much money it's generated so far.

Ahead of the iPhone's official 5th birthday celebration on Friday, Strategy Analytics has released a new report indicating that the Apple touchscreen smartphone has generated some $150 billion in revenue since launch.

"The iPhone portfolio has become a huge generator of cash and profit for Apple," Neil Mawston, director at Strategy Analytics, says. "A quarter of a billion iPhones have been shipped cumulatively worldwide in the first five years since launch and Apple reaches its fifth birthday at the top of its game."

Apple fans and investors will get its next look at Apple earnings and iPhone-related revenue when the company reports quarterly results covering Q3 in July.

“There are emerging signs that the iPhone’s next five years could get tougher,” Mawston tells Tech Crunch. “Some mobile operators are becoming concerned about the high level of subsidies they spend on the iPhone, while Samsung is expanding its popular Galaxy portfolio and providing Apple with more credible competition.”

Nonetheless, if Apple, as expected, releases a next-gen iPhone with 4G LTE connectivity, NFC, and other cutting edge bells and whistles, $150 billion may just be the tip of the iceberg.